Vaxcyte (PCVX) finance chief sells 3,000 shares after option exercise

Rhea-AI Filing Summary

Vaxcyte, Inc. SVP, Finance & CAO Elvia Cowan exercised stock options and then sold the resulting shares. On 2026-04-07, she exercised options for 3,000 shares of common stock at an exercise price of $25.92 per share and acquired 3,000 shares.

The same day, she sold 3,000 shares of common stock at $60.00 per share in an open-market transaction, leaving her with 28,975 shares held directly after the sale. The filing notes that the sales were made under a pre-arranged Rule 10b5-1 trading plan adopted on December 8, 2025, indicating the transactions were scheduled in advance.

Insider Trade Summary 10b5-1

Net Seller: 3,000 shares ($180,000)

Net Sell 3 txns

Insider Cowan Elvia

Role SVP, Finance & CAO

Sold 3,000 shs ($180K)

Type	Security	Shares	Price	Value
Exercise	Stock Option (right to buy)	3,000	$0.00	--
Exercise	Common Stock	3,000	$25.92	$78K
Sale	Common Stock	3,000	$60.00	$180K

Holdings After Transaction: Stock Option (right to buy) — 93,068 shares (Direct); Common Stock — 31,975 shares (Direct)

Footnotes (1)

1. The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted on December 8, 2025. 1/4 of the shares subject to the option vested on July 1, 2023, and 1/48 of the shares vest monthly thereafter, subject to Reporting Person's continuous service with the Issuer through each such date.

Key Figures

Options exercised: 3,000 shares Exercise price: $25.92 per share Shares sold: 3,000 shares +3 more

6 metrics

Options exercised 3,000 shares Stock options exercised on 2026-04-07

Exercise price $25.92 per share Stock option exercise price

Shares sold 3,000 shares Common stock sold on 2026-04-07

Sale price $60.00 per share Open-market sale price

Shares held after 28,975 shares Direct Vaxcyte common stock holdings post-transaction

10b5-1 plan adoption date December 8, 2025 Date Rule 10b5-1 trading plan was adopted

Key Terms

Rule 10b5-1 trading plan, Stock Option (right to buy), Common Stock, Exercise or conversion of derivative security, +1 more

5 terms

Rule 10b5-1 trading plan financial

"The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan"

A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.

Stock Option (right to buy) financial

"security_title: "Stock Option (right to buy)""

Common Stock financial

"underlying_security_title: "Common Stock""

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

Exercise or conversion of derivative security financial

"transaction_code_description: "Exercise or conversion of derivative security""

open-market sale financial

"transaction_action: "open-market sale""

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Cowan Elvia

(Last) (First) (Middle)

C/O VAXCYTE, INC.

825 INDUSTRIAL ROAD, SUITE 300

(Street)

SAN CARLOS CALIFORNIA 94070

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Vaxcyte, Inc. [ PCVX ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SVP, Finance & CAO

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/07/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	04/07/2026		M		3,000	A	$25.92	31,975	D
Common Stock	04/07/2026		S(1)		3,000	D	$60	28,975	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (right to buy)	$25.92	04/07/2026		M			3,000	(2)	08/08/2032	Common Stock	3,000	$0	93,068	D

Explanation of Responses:

1. The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted on December 8, 2025.

2. 1/4 of the shares subject to the option vested on July 1, 2023, and 1/48 of the shares vest monthly thereafter, subject to Reporting Person's continuous service with the Issuer through each such date.

Remarks:

	Elvia Cowan, by /s/ Peter N. Efremenko, Attorney-In-Fact	04/08/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transactions did Vaxcyte (PCVX) executive Elvia Cowan report?

Elvia Cowan reported exercising options for 3,000 Vaxcyte shares at $25.92 and selling 3,000 common shares at $60.00 on 2026-04-07. After these transactions, she directly held 28,975 Vaxcyte common shares, according to the Form 4 filing.

At what prices did the Vaxcyte (PCVX) insider exercise and sell shares?

The Vaxcyte insider exercised stock options at an exercise price of $25.92 per share and sold 3,000 common shares at $60.00 per share. Both the option exercise and the subsequent sale occurred on 2026-04-07, as disclosed in the Form 4.

How many Vaxcyte (PCVX) shares does Elvia Cowan own after the Form 4 transactions?

Following the reported transactions, Elvia Cowan directly owns 28,975 shares of Vaxcyte common stock. This figure reflects her holdings after exercising options for 3,000 shares and then selling 3,000 shares on 2026-04-07, as detailed in the insider filing.

Were the recent Vaxcyte (PCVX) insider sales under a Rule 10b5-1 plan?

Yes. The Form 4 states the sales were made under a Rule 10b5-1 trading plan adopted on December 8, 2025. Such plans pre-schedule trades, indicating these sales were arranged in advance rather than being discretionary, timing-based decisions by the insider.

What type of derivative security did the Vaxcyte (PCVX) insider exercise?

The insider exercised a "Stock Option (right to buy)" covering 3,000 underlying shares of Vaxcyte common stock at $25.92 per share. The option was scheduled to vest over time, with portions vesting starting July 1, 2023, subject to continued service.